Central Bank Watch
Singapore’s Semi-Annual Monetary Policy Statement Adopts a Neutral Policy Stance
April 14, 2016
The Monetary Authority of Singapore (MAS) subordinates monetary policy to an exchange rate target and had run a stance of gradual trade-weighted appreciation of the Singapore dollar for the past six years. The rate of permitted appreciation had been flattened somewhat at an unscheduled January 2015 meeting and again last October. In fact, the average […] More
Central Bank Watch
Bank of England: No Change
April 14, 2016
In 2016, communication by the Monetary Policy Committee has changed but not the stance of policy. Policymakers now release a detailed statement of explanation instead of the old system of deferring details except when changing the interest rate to published minutes, which used to be delayed by two weeks. The Bank Rate of 0.5% since […] More
New Overnight Developments Abroad - Daily Update
Some Investor Caution Returns
April 14, 2016
Yesterday’s stock market rally carried into Asia but not Europe. Share prices rose 3.2% in Japan, 1.3% in Australia, 1.8% in South Korea, 1.9% in India and 0.5% in China. Equities in Europe have settled back 0.7% in Greece, 0.4% in Spain and Italy, and 0.1% in the U.K. and France. The German Dax is […] More
